Vodafone Group Considers Purchase of C&W Worldwide
Earlier this week, Vodafone Group confirmed industry suspicions, acknowledging that it is considering the purchase of Cable and Wireless (C&W) Worldwide. Vodafone is considered the world’s largest mobile phone company.
Based on stock prices from last week, C&W Worldwide has an estimated value of approximately $800,000. Vodafone has indicated that it is considering an all-cash offer of $1.1 billion, but has made no indication that an offer is imminent.
Current rules mandate that Vodafone has until March 12 to announce its intent to take over C&W Worldwide. Should it not follow through on the purchase, Vodafone would be restricted from making any bids for CWW for six months.
C&W Worldwide has seen three different chief executive officers in the past year. The current CEO Gavin Darby was formerly the chief executive with Vodafone in the United Kingdom (UK).
C&W Worldwide is a company with a long history, beginning operations in the late 19th century and adding radio and cable to its operations in the 1930s. Today it operates a fiber optic network in the UK and its cable network provides services in 150 countries either directly or via local partnering. C&W Worldwide provides telecom services to business and public sector entities as well as broadband and mobile services in the Caribbean, Monaco, Panama and Macau.
Apax Partners also is rumored to be a possible suitor for the Cable & Wireless Worldwide operations.